Nigeria Sets New Global mark With Landmark Anti-Fraud ISO Standard

Nigeria has unveiled a landmark ISO standard aimed at strengthening its anti-fraud framework and embedding a culture of integrity across both public and private sectors. Coordinated by the Standards Organisation of Nigeria (SON) in Abuja, the launch was led by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, represented by Jachinma Agu.

The standard is designed to shield the economy from the corrosive effects of fraud, which increases business costs, erodes investor confidence, stifles innovation, and undermines public trust. “Fraud is like a hidden tax on development,” Oduwole remarked, noting that adopting the framework signals that Nigeria is a transparent and reliable destination for business and investment.

SON Director, Okeke, highlighted the transformative potential of the standard public sector adoption can reduce financial leakages and restore confidence, while private-sector uptake enhances integrity, strengthens global rankings, and attracts foreign direct investment. He stressed that successful implementation requires collective commitment from government leaders, industry captains, professional bodies, and civil society.

By embedding this framework, Nigeria is not only bolstering transparency and accountability but also setting a strong foundation for sustainable economic growth, good governance, and international business confidence.